South African bitcoin exchange ICE3X has partnered with VoguePay to launch Nigeria’s First Bitcoin Exchange, thus opening up a potentially huge market for bitcoin in Nigeria.
ICE3X founder, Gareth Grobler, told CoinDesk that Nigeria is still a virgin territory for Bitcoin market.
The partnership with VoguePay, a payment processor in Nigeria, allows users to buy and sell bitcoins using the local currency, the naira, directly from existing VoguePay wallets.
“The market, however, is potentially massive. VoguePay have spotted the opportunity bitcoin offers, seeing as one of the primary attributes of bitcoin is its security. Nigerian online consumers simply do not have the same access to goods and services from international vendors due to one simple thing – credit card fraud. Bitcoin solves that problem,” Grobler said.
He revealed his company is also planning to roll out merchant services in Nigeria, allowing local businesses to accept bitcoins.
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